Now, co-operation has its clearly marked limitations. It is of itself no panacea for all the ills that labor is heir to. But it can ameliorate some of the worst of those ills. It can effect great savings for our workingmen, and can secure them food and other necessaries of the best quality. If nothing further arises, the spread of co-operation may simply induce a new form of competition between these big societies; but no one can study the history of the movement without becoming persuaded that there is a moral development carried on which will, in some way as yet not seen to us, lead up the organization of those societies into some higher generalization, securing harmony. It is constantly and rightly said that business can never dispense with that which makes the secret of capital's success in large industry and trade, namely, generalship. Co-operation can, it is admitted, capitalize labor for the small industries, in which it is capable of making workingmen their own employers, but it is said it can never, through committees of management, carry on large industries or trade. I can, however, see no reason why hereafter it may not enable large associations to hire superior directing ability at high salaries, just as paid generals give to republics the leadership which kings used to supply in monarchies. There are in the savings-banks of many manufacturing centers in our country amounts which if capitalized would place the workingmen of those towns in industrial independence; moneys which, in some instances, are actually furnishing the borrowed capital for their own employers. In such towns our workingmen have saved enough to capitalize their labor, but for lack of the power of combination, let the advantage of their own thrift inure to the benefit of men already rich. They save money and then loan it to rich men to use in hiring them to work on wages, while the profits go to the borrowers of labor's savings. But the chief value of co-operation, in my estimate, is its educating power. It opens a training school for labor in the science and art of association. Labor once effectively united could win its dues, whatever they may be. The difficulties of such association have lain in the undeveloped mental and moral condition of the rank and file of the hosts of labor. * * *